TODAY'S BUSINESS HEADLINES

Winning Korean bidder seeks reduction in $440.88-million price tag for Angat power plant

Pag-Ibig mulls P5 billion investment in stocks

Asia Brewery eyes dairy manufacturing hub in Laguna for exports to Southeast Asia

Philippines' forex surplus up a third at end-May

Globe sets P7-billion debt sale to finance Bayan takeover

Typhoons 'Ferdie', 'Gener' cost P122.7-M in farm output

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MANILA – Farm sector damage caused by typhoons Ferdie and Gener hit P122.70 million, the Department of Agriculture said on Friday.

Citing estimates as of August 3, the DA said the typhoons caused damage in a total of 21,336 hectares in four regions, namely Cagayan and Regions II, III and V.

Rice farms sustained the heaviest damage at P118.45 million, with 25,387 hectares or 3,997 metric tons of palay gone to waste.

Nine hundred twenty-six hectares or 305 metric tons of corn were also washed away at a cost of P3.84 million, with 427 hectares flooded because of the heavy rains.

The fisheries sector incurred damages worth P412,125, mostly bangus and tilapia in fishponds.

 

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